\n \nNevada's solar market holds an impressive sixth position nationwide, per the Solar Energy Industries Association (SEIA) rankings. With the capacity to provide solar energy to more than a million households through installed solar power, Nevada has cemented its place as a leader with more and more residential and business solar systems going online each year. \nThe state's favorable solar incentives, coupled with high sunlight availability and rising energy costs, make it a prime location for solar energy adoption. Here is every other reason you need to start your solar project in Nevada in 2024.\n\nNevada Solar Tax Exemptions\nFederal Solar Tax Credit\nThe federal solar tax credit, also referred to as the Investment Tax Credit (ITC), is a national incentive that allows individuals to obtain a tax credit for the costs associated with installing solar panels. This credit offers solar owners a 30% deduction on their total system expenses. For example, if you buy a 10 kilowatt (kW) system for $33,000, your tax credit would equal $9,900. \nAdditional local incentives can be utilized, including exemptions from Texas’ sales and property taxes.\nIn 2020, the federal tax credit for solar decreased to 26% but was reinstated to its original rate of 30% in 2022 by the Inflation Reduction Act. This credit will remain accessible until 2034, with a gradual phase-out planned. Here is the schedule: \n\nThe credit will decrease to 26% in 2033\nThe credit will decrease to 22% in 2034\nUnless renewed by Congress, the credit will phase out entirely in 2035\n\n\nNevada Local Solar Exemptions\nWhile Nevada has implemented legislation supportive of residential solar installations, it currently does not provide financial incentives through local government agencies. \nNevada does a 100% property tax exemption to renewable energy systems used in commercial, industrial, and agricultural settings. There's also a 55% property tax abatement for large-scale solar farms with at least 10 megawatts of capacity. \nUnfortunately, residential solar consumers are not as lucky. \n \nHOA’s: Nevada Solar and Wind Easement Laws\nNevada has enacted legislation to ensure access to solar energy for its residents. This includes overriding any covenants, deeds, ordinances, and other legal instruments that may unreasonably restrict the use of solar power systems. \nThese protections extend to homeowners' associations, preventing them from imposing restrictions on the use of solar panels. Nevada's laws are designed to safeguard the performance of renewable energy systems, prohibiting any measures that would reduce their efficiency by more than 10%. \n\nNV Energy: Energy Storage Incentive Program\nNV Energy's Energy Storage Incentive Program is designed to promote the use of energy storage systems in Nevada. The program provides incentives for customers who install qualifying energy storage systems paired with renewable energy systems, like solar panels.\nThe incentive rates vary based on the type of customer (residential, small business, or large business) and whether the energy storage system can shift energy usage from on-peak to off-peak periods. \nThe incentive rate depends on your electric tariff:\n\n\nCustomer with time-of-use (TOU) tariffs: $190 per kWh of storage capacity\n\n\nCustomer with non-TOU tariffs: $95 per kWh of storage capacity\n\n\nPlease note that these figures may change over time and are subject to program rules and regulations. It's recommended to check NV Energy's official website or contact them directly for the most current information.\n \nNet Metering in Nevada\nNevada's net metering policy is generally considered generous compared to other states. The state's net metering laws have undergone several changes over the years. Before 2015, residents of Nevada received full retail price compensation for any excess solar energy generated. In 2016, the state significantly cut back on net metering compensation but subsequently increased it to more generous levels in 2017.\nOwners of solar power systems with a capacity of 25 kW or less are eligible for monthly credits for surplus energy produced, receiving 75% of the retail rates. \nHowever, these net metering credits cannot surpass 100% of your yearly consumption - meaning that any additional energy produced beyond this limit won't result in extra benefits.\nHow to Enroll in Nevada’s Net Metering Program\nNet metering programs can differ depending on the utility company, but there are generally three universal prerequisites:\n\nYour solar system must adhere to the interconnection stipulations of the utility company.\nYour system should comply with the IEEE 1547 and UL 1741 standards.\nA professional must install your system in accordance with local building regulations, ruling out DIY installations.\n\nNV Energy operates the most extensive net metering program in Nevada. To take part in NV Energy's program, your solar power system must be inspected and approved by city or county building authorities. You can submit your solar project documents and application via the PowerClerk platform. Once your home solar system is authorized, NV Energy will fit a bidirectional power meter and transition you to a net metering tariff.\nNevada Solar Resources\nPublic Utilities Commission of Nevada\nNevada Energy: Solar\nEnergy Sage: Nevada\n \nLet US Solar Supplier guide your solar energy project! Consult with us today to match the perfect system to your needs.